-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CRHp8EqPYso4USZOKAFi2BWAAIQfpV9u/62HY/cMtkUhI/iYgwtdFOC/j/R28rQQ pLAPdqfITgE6GgkwZnEkYQ== 0001056404-04-002969.txt : 20040903 0001056404-04-002969.hdr.sgml : 20040903 20040903140943 ACCESSION NUMBER: 0001056404-04-002969 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040825 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20040903 DATE AS OF CHANGE: 20040903 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SECURITIZED ASSET BACKED RECEIVABLES LLC TRUST 2004-OP1 CENTRAL INDEX KEY: 0001283459 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-108395-01 FILM NUMBER: 041016369 BUSINESS ADDRESS: STREET 1: 200 PARK AVE. CITY: NEW YORK STATE: NY ZIP: 10166 8-K 1 sab04op1.txt AUGUST 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 25, 2004 SECURITIZED ASSET BACKED RECEVABLES TRUST Mortgage Pass-Through Certificates, Series 2004-OP1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-108395-01 54-6612462 Pooling and Servicing Agreement) (Commission IRS EIN (State or other File Number) jurisdiction of Incorporation) 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On August 25, 2004 a distribution was made to holders of SECURITIZED ASSET BACKED RECEVABLES TRUST, Mortgage Pass-Through Certificates, Series 2004-OP1 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-OP1 Trust, relating to the August 25, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SECURITIZED ASSET BACKED RECEVABLES TRUST Mortgage Pass-Through Certificates, Series 2004-OP1 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 9/3/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-OP1 Trust, relating to the August 25, 2004 distribution. EX-99.1
Securitized Asset Backed Receivables Mortgage Pass-Through Certificates Record Date: 7/31/2004 Distribution Date: 8/25/2004 SABR Series: 2004-OP1 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 81375WAH9 SEN 1.85250% 896,751,107.80 1,384,359.53 38,295,844.68 A-2 81375WAA4 SEN 1.70000% 376,605,157.73 533,523.98 16,001,856.88 M-1 81375WAB2 MEZ 1.96000% 117,211,000.00 191,444.63 0.00 M-2 81375WAC0 MEZ 2.55000% 96,632,000.00 205,343.00 0.00 M-3 81375WAD8 MEZ 2.80000% 25,948,000.00 60,545.33 0.00 B-1 81375WAE6 JUN 3.05000% 26,843,000.00 68,225.96 0.00 B-2 81375WAF3 JUN 3.20000% 20,579,000.00 54,877.33 0.00 B-3 81375WAG1 JUN 4.20000% 23,263,000.00 81,420.50 0.00 X SAB04OP1X OC 0.00000% 38,473,940.86 7,227,670.36 0.00 P SAB04OP1P Pre_Pay 0.00000% 0.01 1,057,760.99 0.00 R SAB04P1R1 RES 0.00000% 0.00 0.00 0.00 Totals 1,622,306,206.40 10,865,171.61 54,297,701.56
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 858,455,263.12 39,680,204.21 0.00 A-2 0.00 360,603,300.85 16,535,380.86 0.00 M-1 0.00 117,211,000.00 191,444.63 0.00 M-2 0.00 96,632,000.00 205,343.00 0.00 M-3 0.00 25,948,000.00 60,545.33 0.00 B-1 0.00 26,843,000.00 68,225.96 0.00 B-2 0.00 20,579,000.00 54,877.33 0.00 B-3 0.00 23,263,000.00 81,420.50 0.00 X 0.00 38,473,940.86 7,227,670.36 0.00 P 0.00 0.01 1,057,760.99 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 1,568,008,504.84 65,162,873.17 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 1,025,017,000.00 896,751,107.80 0.00 38,295,844.68 0.00 0.00 A-2 415,518,000.00 376,605,157.73 0.00 16,001,856.88 0.00 0.00 M-1 117,211,000.00 117,211,000.00 0.00 0.00 0.00 0.00 M-2 96,632,000.00 96,632,000.00 0.00 0.00 0.00 0.00 M-3 25,948,000.00 25,948,000.00 0.00 0.00 0.00 0.00 B-1 26,843,000.00 26,843,000.00 0.00 0.00 0.00 0.00 B-2 20,579,000.00 20,579,000.00 0.00 0.00 0.00 0.00 B-3 23,263,000.00 23,263,000.00 0.00 0.00 0.00 0.00 X 38,474,622.00 38,473,940.86 0.00 0.00 0.00 0.00 P 0.00 0.01 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,789,485,622.00 1,622,306,206.40 0.00 54,297,701.56 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 38,295,844.68 858,455,263.12 0.83750344 38,295,844.68 A-2 16,001,856.88 360,603,300.85 0.86784038 16,001,856.88 M-1 0.00 117,211,000.00 1.00000000 0.00 M-2 0.00 96,632,000.00 1.00000000 0.00 M-3 0.00 25,948,000.00 1.00000000 0.00 B-1 0.00 26,843,000.00 1.00000000 0.00 B-2 0.00 20,579,000.00 1.00000000 0.00 B-3 0.00 23,263,000.00 1.00000000 0.00 X 0.00 38,473,940.86 0.99998230 0.00 P 0.00 0.01 0.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 54,297,701.56 1,568,008,504.84 0.87623420 54,297,701.56
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 1,025,017,000.00 874.86461961 0.00000000 37.36118004 0.00000000 A-2 415,518,000.00 906.35100701 0.00000000 38.51062260 0.00000000 M-1 117,211,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 96,632,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 25,948,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 26,843,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 20,579,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 23,263,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 38,474,622.00 999.98229638 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 37.36118004 837.50343957 0.83750344 37.36118004 A-2 0.00000000 38.51062260 867.84038441 0.86784038 38.51062260 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 999.98229638 0.99998230 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 1,025,017,000.00 1.85250% 896,751,107.80 1,384,359.52 0.00 0.00 A-2 415,518,000.00 1.70000% 376,605,157.73 533,523.97 0.00 0.00 M-1 117,211,000.00 1.96000% 117,211,000.00 191,444.63 0.00 0.00 M-2 96,632,000.00 2.55000% 96,632,000.00 205,343.00 0.00 0.00 M-3 25,948,000.00 2.80000% 25,948,000.00 60,545.33 0.00 0.00 B-1 26,843,000.00 3.05000% 26,843,000.00 68,225.96 0.00 0.00 B-2 20,579,000.00 3.20000% 20,579,000.00 54,877.33 0.00 0.00 B-3 23,263,000.00 4.20000% 23,263,000.00 81,420.50 0.00 0.00 X 38,474,622.00 0.00000% 38,473,940.86 0.00 0.00 0.00 P 0.00 0.00000% 0.01 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 1,789,485,622.00 2,579,740.24 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 1,384,359.53 0.00 858,455,263.12 A-2 0.00 0.00 533,523.98 0.00 360,603,300.85 M-1 0.00 0.00 191,444.63 0.00 117,211,000.00 M-2 0.00 0.00 205,343.00 0.00 96,632,000.00 M-3 0.00 0.00 60,545.33 0.00 25,948,000.00 B-1 0.00 0.00 68,225.96 0.00 26,843,000.00 B-2 0.00 0.00 54,877.33 0.00 20,579,000.00 B-3 0.00 0.00 81,420.50 0.00 23,263,000.00 X 0.00 0.00 7,227,670.36 0.00 38,473,940.86 P 0.00 0.00 1,057,760.99 0.00 0.01 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 10,865,171.61 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 1,025,017,000.00 1.85250% 874.86461961 1.35057225 0.00000000 0.00000000 A-2 415,518,000.00 1.70000% 906.35100701 1.28399725 0.00000000 0.00000000 M-1 117,211,000.00 1.96000% 1000.00000000 1.63333330 0.00000000 0.00000000 M-2 96,632,000.00 2.55000% 1000.00000000 2.12500000 0.00000000 0.00000000 M-3 25,948,000.00 2.80000% 1000.00000000 2.33333320 0.00000000 0.00000000 B-1 26,843,000.00 3.05000% 1000.00000000 2.54166673 0.00000000 0.00000000 B-2 20,579,000.00 3.20000% 1000.00000000 2.66666650 0.00000000 0.00000000 B-3 23,263,000.00 4.20000% 1000.00000000 3.50000000 0.00000000 0.00000000 X 38,474,622.00 0.00000% 999.98229638 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 1.35057226 0.00000000 837.50343957 A-2 0.00000000 0.00000000 1.28399728 0.00000000 867.84038441 M-1 0.00000000 0.00000000 1.63333330 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.12500000 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.33333320 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 2.54166673 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 2.66666650 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 3.50000000 0.00000000 1000.00000000 X 0.00000000 0.00000000 187.85552617 0.00000000 999.98229638 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 64,513,392.64 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 1,057,760.99 Total Deposits 65,571,153.63 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 408,280.46 Payment of Interest and Principal 65,162,873.17 Total Withdrawals (Pool Distribution Amount) 65,571,153.63 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 405,576.55 Wells Fargo 2,703.91 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 408,280.46
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 15 0 0 15 2,178,457.39 0.00 0.00 2,178,457.39 30 Days 152 3 1 0 156 23,214,549.15 401,977.08 167,174.55 0.00 23,783,700.78 60 Days 40 3 12 0 55 7,924,461.44 283,891.17 1,784,399.00 0.00 9,992,751.61 90 Days 20 10 57 3 90 2,782,316.51 1,173,458.21 8,623,312.40 641,850.25 13,220,937.37 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 212 31 70 3 316 33,921,327.10 4,037,783.85 10,574,885.95 641,850.25 49,175,847.15 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.146728% 0.000000% 0.000000% 0.146728% 0.138877% 0.000000% 0.000000% 0.138877% 30 Days 1.486843% 0.029346% 0.009782% 0.000000% 1.525971% 1.479936% 0.025626% 0.010657% 0.000000% 1.516220% 60 Days 0.391275% 0.029346% 0.117382% 0.000000% 0.538003% 0.505187% 0.018098% 0.113756% 0.000000% 0.637042% 90 Days 0.195637% 0.097819% 0.557566% 0.029346% 0.880368% 0.177374% 0.074808% 0.549739% 0.040918% 0.842840% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 2.073755% 0.303238% 0.684731% 0.029346% 3.091069% 2.162497% 0.257410% 0.674153% 0.040918% 3.134978%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 684,417.77
COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.556587% Weighted Average Net Coupon 7.256587% Weighted Average Pass-Through Rate 7.254587% Weighted Average Maturity(Stepdown Calculation ) 349 Beginning Scheduled Collateral Loan Count 10,516 Number Of Loans Paid In Full 293 Ending Scheduled Collateral Loan Count 10,223 Beginning Scheduled Collateral Balance 1,622,306,206.40 Ending Scheduled Collateral Balance 1,568,008,504.84 Ending Actual Collateral Balance at 31-Jul-2004 1,568,618,384.67 Monthly P &I Constant 11,541,316.38 Special Servicing Fee 0.00 Prepayment Penalties 1,057,760.99 Realized Loss Amount 0.00 Cumulative Realized Loss 4,236.91 Ending Scheduled Balance for Premium Loans 1,568,008,504.84 Scheduled Principal 1,325,401.37 Unscheduled Principal 52,972,300.19
Miscellaneous Reporting Credit Enhancement Percentage 22.254340% Delinquency Trigger Event NO Cumulative Loss Trigger Event NO Trigger Event NO Stepdown NO Total Monthly Excess Spread 7,227,670.38 Specified Subordinated Amount 38,473,940.87 Subordinated Deficiency 0.00 Extra Principal Distribution Amount 0.00 Subordinated Increase Amount 0.00 Excess Subordinated Amount 0.00 Subordinated Reduction Amount 0.00 Subordinated Amount 38,473,940.87 Cap Agreement Payment (Class A-2) 0.00 Cap Agreement Payment (Class M) 0.00 Cap Agreement Payment (Class B) 0.00
Group Level Collateral Statement Group Group 1 Group 2 Group 3 Collateral Description Mixed Fixed Mixed ARM Mixed Fixed Weighted Average Coupon Rate 7.420470 7.590761 7.444743 Weighted Average Net Rate 7.120470 7.290761 7.144743 Weighted Average Maturity 349 349 349 Beginning Loan Count 2,085 5,771 748 Loans Paid In Full 44 178 13 Ending Loan Count 2,041 5,593 735 Beginning Scheduled Balance 296,129,862.57 848,968,678.09 132,690,520.53 Ending scheduled Balance 289,198,975.05 817,603,720.93 129,951,044.77 Record Date 07/31/2004 07/31/2004 07/31/2004 Principal And Interest Constant 2,122,411.01 6,019,714.74 945,489.96 Scheduled Principal 291,225.48 649,449.23 122,284.32 Unscheduled Principal 6,639,662.04 30,715,507.93 2,617,191.44 Scheduled Interest 1,831,185.53 5,370,265.51 823,205.64 Servicing Fees 74,032.46 212,242.16 33,172.63 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 493.56 1,414.98 221.15 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,756,659.51 5,156,608.37 789,811.86 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 4,236.91 0.00 Percentage of Cumulative Losses 0.0000 0.0004 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.118470 7.288761 7.142743
Group Level Collateral Statement Group Group 4 Total Collateral Description Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.632450 7.556587 Weighted Average Net Rate 7.332450 7.256587 Weighted Average Maturity 349 349 Beginning Loan Count 1,912 10,516 Loans Paid In Full 58 293 Ending Loan Count 1,854 10,223 Beginning Scheduled Balance 344,517,145.21 1,622,306,206.40 Ending scheduled Balance 331,254,764.09 1,568,008,504.84 Record Date 07/31/2004 07/31/2004 Principal And Interest Constant 2,453,700.67 11,541,316.38 Scheduled Principal 262,442.34 1,325,401.37 Unscheduled Principal 12,999,938.78 52,972,300.19 Scheduled Interest 2,191,258.33 10,215,915.01 Servicing Fees 86,129.30 405,576.55 Master Servicing Fees 0.00 0.00 Trustee Fee 574.22 2,703.91 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread Fee 1 0.00 0.00 Spread Fee 2 0.00 0.00 Spread Fee 3 0.00 0.00 Net Interest 2,104,554.81 9,807,634.55 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 4,236.91 Percentage of Cumulative Losses 0.0000 0.0002 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.330450 7.254587
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